Welcome to the first Wholesaler Pro – part of the Tuesday Pro Newsletter! Today we will be hearing from Jordan Santiago (@TheJSantiago). Jordan – handing you the wheel!
I got started wholesaling in New York City at the age of 20 years old. Fast forward to today: my business grosses 7 figures worth of assignment fees allowing me to fix / flip and own 7 figures worth of property.
The business is growing every single month and there is still an insane amount of opportunity & money to be made from wholesaling real estate – so lets dive into it.
Here are 5 things you need to do BEFORE you start wholesaling.
5 things to do BEFORE you start wholesaling
- Get Your Mind Right
Knowing that real estate, and entrepreneurship in general is not a get-rich quick scheme. You have to understand that wholesaling real estate takes some time, trial and error, and it could be months before you see some money and momentum.
Surround yourself with likeminded individuals in the same position as you, or better, and join real estate wholesaling Facebook groups, network on social media, and attend real estate meet-ups to help you with the start of your journey.
- Educate Yourself
Before you fully dive into wholesaling real estate, you need to educate yourself on at least the basics. This can be watching YouTube videos (Max Maxwell, Jerry Norton, etc), reading books, listening to podcasts, purchasing courses, joining mentorships/masterminds etc.
It all depends on your budget and how quick you want to accelerate, but you definitely want to have a strong educational foundation before you fully jump into wholesaling.
- Assess Your Budget
Breakdown your finances. Do you have savings? How much? Do you have a stable income? The reason this is important because this can help you decide your plan of attack when getting into wholesaling.
Are there ways to make money in wholesaling real estate with ZERO dollars? Absolutely. Is getting deals easier if you have money to spend though? Absolutely.
- Partner or Solo?
Decide if you want to bring on a partner and not. Make sure you choose the right person that compliments your weaknesses if you do. Make sure they work as hard as you. Make sure they are as committed as you. Make sure they are as consistent and persistent as you.
If not, its best to be solo. Figure that out if you are considering it.
- Solidify Your Goals
Lastly, figure out, write down, and view constantly your goals and your WHY in this business.
Why are you getting in the business? What do you want to accomplish? Who do you want to help? How much do you want to make? Who are you doing this for? What does this mean to you? What is going to keep you disciplined and pushing? These are all questions to answer before you jump into wholesaling.
Those were 5 things are very simple to accomplish … but 5 things you should absolutely do before taking the leap into wholesaling. Dont rush this process, take the time to get these things right and it will save you a lot of time when you are just starting out!
More about Jordan Santiago
See you on Friday